Create a Legacy with your Estate
"Worry a little bit every day and in a lifetime you will lose a couple of years. If something is wrong, fix it if you can. But train yourself not worry; Worry never fixes anything."
The Bernice Dickson Family heard this and raised Hemingway one big leap. Ms. Dickson did not worry, she sprang into action, creating a museum from the now famous property in Key West, Florida. http://www.placesaroundflorida.com/Key_West_Florida/Ernest_Hemingway_House/
Take Action
There are a number of ways to create a plan that provides a legacy. The Dickson Family had quite an undertaking with the property. Your needs may not be quite so complicated. But if you have a pet, no matter how many toes, your estate plan may provide for them. Consider your needs and the options become clear when you sit down with your estate planning attorney.
Choose a Plan
You might create a Living Trust, either revocable or irrevocable. Perhaps you'd like to set up a corporate entity, perhaps a not-for-profit entity with people on board who you trust to carry on. You might need something a bit less complicated to assure your property is passed on to the charity of your choice after you and your spouse pass on. Consider a properly drafted will with your attorney. A will can be far more than a risky generic form with typed in answers and your signature. A will may contain a testamentary trust that springs into life after your passing.
In fact; your will might contain more than one testamentary trust depending on the needs.
As mentioned, you might find this to be a violable option for a small estate with property to direct beyond family members to benefit a charity. To direct the care of a pet after you pass. It is also a means to direct life insurance proceeds.
Make an appointment with your estate planning professional to discuss how your assets may be safely tucked into the category of legacy with a firm estate plan.
No more worrying, plenty of action.
